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...assistance during the financial crisis. Some money managers say that could take years - and it looks increasingly unlikely that Lewis will be able to hang on that long. In April, shareholders voted to strip Lewis of the title of chairman. Moreover, regulators have pushed the bank to replace a number of its corporate directors. The SEC settlement may be the final straw for Lewis...

Author: /time Magazine | Title: SEC Settlement May Threaten BofA CEO | 8/4/2009 | See Source »

...asset management firm in New York, and by the end of the next month—once Bear Stearns had wound-down the funds as officially worthless—all of my colleagues, from the most senior money managers to the lowliest analysts, had sat through a number of crash courses in our conference rooms 40 floors over Midtown, covering the inner-workings of “mortgage securitization.” This process governs how a home buyer’s payments make it from Main Street to Wall Street, and what happens when the flow stops

Author: By Max J Kornblith | Title: Back Home and Down to Earth | 8/4/2009 | See Source »

...Beyond large humanoid robots or industrial ones, Japanese researchers have also created a number of consumer-friendly inventions made for fun or therapy, like pet seals and robot chef that can whip up pancakes. But no matter how clever or cuddly, even in Japan commercial robots have a serious flaw: their price. Consumers balk at their heavy price tags, which typically run into the thousands. Sony's AIBO robotic dog, which cost $2,000 per pup, opened to much fanfare only to be cut in 2006, seven years after its introduction...

Author: /time Magazine | Title: What's Behind Japan's Love Affair with Robots? | 8/3/2009 | See Source »

...Today, Freetown is making a slow recovery. Although the war is over, many of the problems associated with it are not. Ex-combatants, a large number of whom were forced to fight against their will, have not been fully reintegrated into society or accepted by their families. The extreme poverty and frequent conflict that made Sierra Leone susceptible to fighting remain. Communities still remember individual wrongdoings, and true reconciliation - somewhere between forgiving and forgetting - has not yet been achieved. (See pictures of death and life in Sierra Leone...

Author: /time Magazine | Title: Singing to Stop the Fighting in Sierra Leone | 8/3/2009 | See Source »

...emphasis on diplomatic measures in Afghanistan comes at a time when NATO officials see Britain's commitment as essential to the security of the alliance. Britain has the highest number of troops in Afghanistan behind the U.S.; while other European countries have sent troops only for nation-building exercises in stable parts of the country, the Brits (along with the Canadians) have taken heavy casualties. In his first speech as the new head of the alliance on Monday, Secretary General Anders Fogh Rasmussen reiterated that NATO's priority must be the war in Afghanistan. "NATO is a strong military alliance...

Author: /time Magazine | Title: Britain's Soul-Searching Over Its Role in Afghanistan | 8/3/2009 | See Source »

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